Tuesday, February 27, 2018

FW: [Maybank] DXY – Running into a Wall of Resistance

 

 

 

DXY – Running into a Wall of Resistance

FX Tech Flash
by Saktiandi Supaat

FX Research

Key data/event focus in US this week on Powell's testimony (on Tue and Thu) as well as PCE core data for Jan (on Thu). Price action suggests that DXY appeared to have ran into a wall of resistance around 90 – 90.50 levels. We believe USD weakness could resume as long as the area of resistance holds. Failing which, we caution that a break beyond this resistance could see DXY head higher towards 91.2 levels ...

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